National Association of Realtors Cuts 61 Jobs Nationwide

The National Association of Realtors is slashing jobs at its longtime Chicago headquarters as it attempts to rebuild after scandal and structural upheaval.

The nation’s largest trade group said Friday it would cut 61 positions nationwide, including 37 in Chicago, as part of a broader reorganization strategy, Crain’s reported.

The move represents nearly 17 percent of its total workforce. NAR had about 200 employees in Chicago as of last year, meaning the cuts represent nearly a fifth of its local staff.

The eliminated roles were in communications, human resources, finance and IT, a spokesperson said.

The cuts follow a wave of turmoil that began fall 2023 after an investigation into allegations of sexual harassment led to resignations from two successive presidents, the ouster of longtime CEO Bob Goldberg and mounting internal scrutiny.

Nykia Wright, the former Chicago Sun-Times CEO who was brought on to guide the organization through the fallout, was later named CEO of NAR and completed her senior leadership team and, earlier this month, hired Matthew Cenedella as CFO, according to a news release.

The trade group has also been hit hard by legal and reputational blows. In October 2023, a federal jury came to a $1.78 billion verdict in an antitrust lawsuit, finding that NAR and several major brokerages had conspired for decades to inflate commissions.

The verdict prompted a sweeping industry shakeup, with NAR ultimately settling the case and agreeing to overhaul commission standards; the new required practice changes kicked in last August, though the industry is split on the full effect of its consequences.

Earlier this month, a survey found NAR to be among the least-liked organizations in the industry, viewed negatively by a majority of real estate professionals and the public.

Founded in 1908, NAR has called Chicago home for more than a century.

Its headquarters remain at 430 North Michigan Avenue, but the scope of its presence in the city could shrink further as restructuring efforts continue.

The organization also maintains an office in Washington, D.C., where four positions are being cut. Another 20 vacant positions across its offices will be eliminated as well.

— Judah Duke